Singapore Exchange (SGX) announced that it has invested an undisclosed amount into local investment research startup Smartkarma, as reported by Tech In Asia. Joining the round are Sequoia Capital India and Wavemaker Partners, both existing investors in Smartkarma.

SGX’s investment was a move to tap into the startup’s investment research network. Smartkarma is reportedly in the preparation to launch its corporate solutions, which include a range of services for C-suite and investor relations personnel of listed companies.

SGX was a pilot partner when the service was first being developed and will be the first exchange to bring the platform to all its listed and upcoming companies as well as global bond issuers.

With the investment and partnership, all companies listed on the exchange will be able to utilise Smartkarma’s network of independent analysts and investors.

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Chan Kum Kong, Head of Research and Retail for SGX, said in a statement: “As SGX continues to uphold the standard and availability of research coverage through initiatives such as partnering with the Monetary Authority of Singapore on Grant for Equity Markets, we are also investing in new models to serve investors and companies now and in the future.”